Bitcoin Rallies From Fibonacci Support | Bottom Forming?Bitcoin / TetherUSBINANCE:BTCUSDTThe_Alchemist_Trader_Bitcoin price action has delivered an impulsive rebound after reacting strongly from the 0.786 Fibonacci support, aligning with high timeframe daily support near $62,000. This confluence zone triggered a sharp bullish reaction, suggesting buyers stepped in aggressively to defend structure. Key Highlights: - Strong bounce from 0.786 Fibonacci + $62K daily support - Increasing volume expansion signals real demand - Point of Control (POC) reclaim needed for continuation Following the reaction from support, Bitcoin has rallied directly into the Point of Control of the current trading range. This level represents the highest traded volume area and acts as a critical decision zone for market direction. The rise in volume during this move indicates participation from buyers, strengthening the case that a local bottom may be forming. For bullish continuation, Bitcoin must reclaim the POC on a closing basis. Acceptance above this region would shift market structure toward continuation and open the probability of expansion toward higher resistance levels. However, rejection here could lead to another rotational move back toward lower support, keeping Bitcoin range-bound while liquidity continues to build.